Chicago, Nov. 27, 2023 (GLOBE NEWSWIRE) -- The global Knowledge Graph Market size is projected to grow from $0.9 billion in 2023 to $2.4 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 21.8% during the forecast period, according to a new report by MarketsandMarkets™.
Implementing knowledge graphs can help organizations achieve better data governance and ensure compliance with regulatory requirements. By providing a clear understanding of data lineage and relationships, knowledge graphs can aid in maintaining data integrity and security.
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With the exponential growth of data, there is an increasing need for efficient data integration and management solutions. Knowledge graphs provide a structured way to integrate, organize, and manage data from various sources, making them a valuable solution for businesses.
Knowledge Graph Market Dynamics:
Drivers:
- swift increase in the volume & complexity of data
- technologies like AI, ML
- semantic web & linked data initiatives
Opportunities:
- NLP to boost knowledge graph market.
- Increasing adoption in healthcare and life sciences
Restraints:
- Cost of development and maintenance
List of key Players in Knowledge Graph Market:
- IBM (US),
- Microsoft (US),
- AWS (US),
- Neo4j (US),
- TigerGraph (US),
- SAP (Germany),
- Oracle (US),
- Stardog (US),
- Franz Inc (US),
- Ontotext (Bulgaria),
- Semantic Web Company (Austria),
- OpenLink Software (US)
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Based on offerings, the services segment is expected to grow with the highest CAGR during the forecast period
The services segment constitutes an integral part of the knowledge graph market. It is one of the core components. For the effective working of any solution, services need to be installed to increase the efficiency of the entire process. The services considered in this report are managed services and professional services. Industry giants such as Google, Amazon Web Services (AWS), Microsoft, and IBM have been instrumental in advancing knowledge graph technology. These industry leaders have shaped the landscape of the knowledge graph market, providing diverse services for businesses and organizations to harness the potential of connected data for improved decision-making and insights.
Based on offerings, the solutions segment is expected to hold the largest market size during the forecast period
The knowledge graph market has witnessed substantial growth, spurred by the demand for sophisticated data management and analysis. To address these needs effectively various solutions have emerged such as Amazon Neptune, IBM Watson Knowledge Studio, Microsoft Azure Cosmos DB, and AllegroGraph. These platforms have enabled industries such as healthcare, finance, and telecommunications to harness their data comprehensively, fostering informed decision-making and advanced analytical capabilities.
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